Market Socialism or Capitalism?

Abstract: The rest of the paper is organized as follows. Section II explains briefly the Chinese non-capitalistic financial market governance institution. Section III provides evidence how this institution works. Section IV demonstrates that the Chinese regional financial development seems consistent with the pattern discovered from 7 capitalist economies. Finally, Section V concludes that although initially successful the Chinese financial market governance structure is losing its effectiveness. Thus, it is only a transitional phenomenon.

Market Socialism or Capitalism.pdf